What Kind Of Loan to Get

Posted on October 15, 2007 @ 8:57 am

My wife and I wanted to redo our bathroom.  The tub was chipped and rusty, the linoleum was peeling and the mirror was broken.  Not to mention the ugly floral print wallpaper on the wall too.  We have been in this house for about seven years now and it is time for a change.

Thing is we don’t have a lot of money.  Not enough for a project of this scope.  From what we have seen checking out prices in stores and such, that we will need about $10,000 to get our project done.

So we decided to get a loan.  Unsure of what type of loan to get, we have been online for the last few nights using the Internet to compare loans.  Originally we thought we would just get a personal loan – but after some research we found that it wasn’t the right type for us.

Instead we found secured personal loans to be what we were looking for.  We could use the equity in our home to get financing and take a long time (as long as our current mortgage) to repay it.  This way, we wouldn’t be paying too much for monthly payments that would crimp our lifestyle.

We filled out an application online and are waiting to hear back from the lender.  I am hoping we find out before the weekend so that we can get this project started.

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